2009 Gold Buffalo Bullion Coins
In 2009, Gold Buffalo Bullion Coins are being minted again after a one year hiatus. This is a reveres from the US Mints decision last year to stop production of this 24Karat gold coin because of the demand by investors and electronic companies for the precious metal gold. This is a change from the previous announcement that the coin would not be produced again until 2010.
The Gold Buffalo coin is different than the Gold Eagle bullion coin by its composition being pure gold without an added alloy to help the coin from being so malleable like the standard 22 k with silver and copper like most gold bullion coins.
There was a lot of buzz in the gold coin circles about the statement issued by the US mint about not issuing any Gold Buffalo coins this year. Someone must have pointed out that the minting and issuing of these coins to the public is set forth by law and must be carried out. This is Public Law 109-145 dated December 22, 2005.
The schedule release of the first 2009 gold buffalo coins was to be October 15, 2009. As of October 19, 2009 the US Mints web sites has a posting a statement saying the release date will be in late October.
When finally released the price of these US Gold coins with be the current spot price of gold plus a nominal fee set by the US Mint office. The current spot price of gold today is at $1053.70. So the price of a newly minted 2009 Gold Buffalo Bullion Coins will be slightly higher.
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